The Harsh Realities of Climate Change on the Economies of Developing Nations
Climate change is a widespread global phenomenon, and its impacts are evident worldwide. It is evident that developing economies are particularly vulnerable to its adverse effects due to their limited resources and high dependence on natural resources.
The economic well-being of all countries is directly affected by climate change, posing a significant threat to long-term growth and prosperity. Developing economies are at the forefront of bearing the brunt of climate change impacts, especially under all climate scenarios above 1.5 degrees Celsius. The World Bank projects that if left unchecked, climate change could drive 216 million people to migrate within their own countries by 2050, with hotspots of internal migration emerging as soon as 2030 and intensifying thereafter.
One of the key impacts of climate change on the economy is the reduction in crop yields and livestock productivity, leading to food insecurity, malnutrition, and poverty. In addition, the increase in the frequency and intensity of natural disasters, such as floods, droughts, storms, and heatwaves, causes damage to infrastructure, assets, and livelihoods in developing economies.
Furthermore, climate change has severely impacted African agriculture, reducing productivity growth by 34 per cent since 1961. The 2020 locust outbreak, exacerbated by climate change, posed a threat to food security across Africa. As global surface temperatures continue to rise, altered precipitation patterns will affect water availability, agriculture, ecosystems, and human health, further impacting developing economies.
Drought-related hazards have resulted in the loss of over half a million lives and economic damages exceeding 70 billion USD in Africa over the past 50 years. Sea-level rise poses significant risks like coastal flooding, saltwater intrusion, and land loss, disproportionately affecting densely populated regions.
Biodiversity loss and rising health risks, including heat stress, respiratory illnesses, vector-borne diseases, and malnutrition, are also direct consequences of climate change on developing economies. Fragile healthcare systems and limited access to health services make these countries particularly vulnerable to these health risks.
To address these impacts, developing economies need to implement policies that address both mitigation (reducing greenhouse gas emissions) and adaptation (enhancing resilience to climate variability and change). This involves integrating climate change considerations into national development strategies and sectoral policies, adopting low-carbon development approaches, building adaptive capacity and resilience, accessing climate finance and technology, and transforming the agriculture sector.
Public awareness is also essential for raising understanding and support for climate change policies and actions. Public education and communication campaigns, engagement with civil society and community organisations, and the promotion of environmental education in schools play a pivotal role in enhancing public awareness of climate change.
In conclusion, climate change poses a significant challenge to the economies of developing nations. However, by taking proactive measures and accessing the necessary support, these countries can not only protect themselves from the adverse effects of climate change but also seize opportunities for green growth and prosperity.
About the author:
Omiunu is a Lawyer/ Development, Climate and Sustainability Advocate.
